Two-Unit Duplex Income
5606 20TH S AVENUE Gulfport, FL 33707
5606 20TH S AVENUE, Gulfport, FL, 33707
$525,000
Pending
For Sale
$525,000
Pending
Duplex offering two 2-bedroom, 1-bath units with a 2019 new roof and a carport flat roof replacement in 2024.
Property Size1,626 SF
Days on Market548
Property Features for 5606 20TH S AVENUE
General Information
- Standard status
- Pending
- Size
- 1,626 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1976
Listing agency
ELITE HOME GROUP
(941) 932-3778
Listed by
Mark Reemelin · License #3247366
(941) 932-3778
Source
Exitrealty
Added: Jan 20, 2025 Updated: Jul 20 at 3:58PM Checked: Jul 22 at 10:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ELITE HOME GROUP
Investment Insights
Based on property information with market context.
This duplex includes two separate 2-bedroom, 1-bath residential units. Recent updates include a new roof installed in 2019 and a flat roof over the carport replaced in December 2024.
The property is located just north of 22nd Ave S in the Gulfport neighborhood, on the south side of St. Petersburg. It is positioned near the Gulfport entertainment district and is less than a mile from Stetson University College of Law.
With two well-defined residential units, the property provides straightforward duplex configuration for an owner seeking rental income from an income-producing multifamily asset.
The property is located just north of 22nd Ave S in the Gulfport neighborhood, on the south side of St. Petersburg. It is positioned near the Gulfport entertainment district and is less than a mile from Stetson University College of Law.
With two well-defined residential units, the property provides straightforward duplex configuration for an owner seeking rental income from an income-producing multifamily asset.
Key Highlights
- Duplex built in 1976 featuring two 2‑bedroom, 1‑bath units
- New roof installed in 2019
- Flat roof over the carport replaced in December 2024
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.1k | $17.88 |
| − Vacancy | −$2.0k | −$1.21 |
| EGI | $27.1k | $16.67 |
| − OpEx | −$8.1k | −$5.00 |
| NOI | $19.0k | $11.67 |
1,626 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$271.1K
$237.2K – $316.3K
NOI $18,979 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$213.6K
$186.9K – $249.2K
NOI $14,954 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$422.9K
$370.1K – $493.4K
NOI $29,605 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex offering two 2-bedroom, 1-bath units with a 2019 new roof and a carport flat roof replacement in 2024.
Where is this duplex located?
The property is located at 5606 20TH S AVENUE Gulfport, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Duplex built in 1976 featuring two 2‑bedroom, 1‑bath units; New roof installed in 2019; Flat roof over the carport replaced in December 2024
